National and Minnesota Report
President Joe Biden (D) is set to fulfill what many think was a campaign pledge, by announcing $10,000 loan forgiveness for people who make less than $125,000 annually and an additional $10,000 for Pell Grant recipients by executive order. This scan help shore up Biden’s support with youngers voters, which has been flagging since his inauguration.
The problem of this system is not addressed with this move there are two larger issues, which are the high cost of tuition and the interest rate on federal student loans, which should be negligible at best.
We expect additional action will be taken on this issue in the future, but at least it is a start.